In today’s competitive landscape, brand visibility and customer engagement are crucial to success. KINTO Singapore, powered by Toyota Financial Services Singapore, exemplifies this by effectively leveraging conversational commerce. KINTO Singapore partnered with Omnichat, a leading Southeast Asian chat commerce platform, to enhance its customer engagement strategy. This strategic implementation showcases the power of conversational commerce in amplifying conversions and fostering meaningful customer interactions.

Streamlining customer interactions for improved efficiency

KINTO Singapore previously faced the challenge of managing customer inquiries across various platforms, including its website and social media channels (Instagram and Facebook). This fragmented approach led to a more-than-optimal customer experience. By consolidating inquiries from various channels into a single platform, KINTO Singapore’s customer service team achieved unprecedented efficiency via Omnichat’s “Customer Service Mojo” feature. 

Chatbots have been well implemented to handle frequently asked questions, providing instant support and freeing their human agents to focus on more complex issues. KINTO Singapore also used chatbots to capture and analyse customer information via every click; the company gained invaluable insights into customer preferences, behaviours, and demographics. This combination of streamlined workflow and intelligent automation dramatically enhanced KINTO Singapore’s customer service capabilities, thus improving overall customer satisfaction.

Targeted campaign promotion drives conversions and brand loyalty

KINTO Singapore strategically harnessed the power of WhatsApp broadcasts to connect directly with its target audience with WhatsApp Games and coupons. By delivering exclusive deals and promotions through this platform, the company precisely targets customers at various stages of their journey, including welcome offers, test drive promotions, exclusive VIP discounts, insurance, and car care. The company successfully increased test drive conversions and fostered a sense of exclusivity among customers. This personalised approach drove engagement and cultivated a loyal customer base eager to participate in future campaigns.

Also Read: Move over social commerce: The conversational commerce renaissance is here

Effortless order processing for enhanced ROI and customer satisfaction

Omnichat’s “Chat to Order” functionality revolutionised the car rental booking process for KINTO Singapore customers. KINTO Singapore can monitor both the number of customers attended to by individual sales representatives and the number of customers who booked test drives following interactions with these representatives.

By seamlessly enabling customers to place orders and specify their preferences directly through WhatsApp, KINTO Singapore streamlined operations and reduced the burden on its customer service and sales team. This frictionless booking experience not only enhanced customer satisfaction but also contributed to increased sales and revenue.

Evert Ong, Chief Operating Officer of KINTO Singapore, said, “When KINTO Singapore launched the daily rental service, we realised we needed a more effective way to engage with our customers. Instead of following the conventional mobile app development route, we leveraged WhatsApp—one of Singapore’s most widely used apps. This allowed us to explore various capabilities for engagement and productivity improvement. Initially, adoption was slow, but after integrating machine learning and continually fine-tuning our approach, we lowered our cost per lead. Our response time to inquiries has improved significantly, leading to better customer retention. The Omnichat team has been exceptionally supportive throughout this process. From pre-sales to implementation and ongoing enhancements, they have consistently demonstrated a deep understanding of our business and have responded promptly,” 

Omnichat is aiming to fuel its next stage of growth with a Series B funding round next year

Alan Chan, CEO and Founder of Omnichat, stated, “KINTO Singapore’s experience illustrates the transformative power of WhatsApp Business Platform for businesses in Southeast Asia. Consumers here are accustomed to and value WhatsApp’s convenience and familiarity.  We are committed to working closely with Meta to unlock the full potential of the WhatsApp Business Platform for businesses of all sizes in Southeast Asia. By leveraging Omnichat’s platform, KINTO Singapore has streamlined customer interactions, significantly reduced costs, and improved customer retention.”

Omnichat is making significant strides in the Southeast Asian market and has ambitious plans for global expansion. To support its next stage of growth, the company is planning a Series B funding round next year. The funding will be instrumental in advancing its AI capabilities through accelerated R&D and driving strategic market entry into North America and Europe.

“We see exciting developments in AI and automation that will further enhance conversational commerce’s capabilities. Integrating AI-powered chatbots will enable businesses to offer 24/7 support, personalise customer experiences at scale, and automate repetitive tasks. Additionally, advancements in data analytics will allow businesses to gain deeper customer insights, enabling them to tailor their offerings and messaging for even greater impact.”

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This article is sponsored by Omnichat.

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Checkmate, a provider of pre-employment screening solutions in New Zealand, has completed its US$1.6 million seed funding round from Wavemaker Partners.

The capital will fuel Checkmate’s expansion into existing and new markets, including Australia, the US, and Southeast Asia, specifically the Philippines.

Also Read: AI-powered recruitment: Revolutionising hiring in Southeast Asia

The funds will also support improvements in the company’s technological capabilities and user experience as more organisations seek reliable and efficient pre-employment screening.

Founded in 2019, Checkmate aims to tackle critical challenges in HR and recruitment, including lengthy and inefficient hiring processes, high-risk hiring decisions, and the complex compliance requirements of various legal standards.

The company aggregates all pre-employment background checks and reference verifications into a “simple” experience for all stakeholders.

The platform integrates background checks, compliance processes, and AI-driven reference checking.

It has over 500 enterprise clients.

Also Read: The future of HR and fintech: Smile API’s real-time employment data solutions

“At Checkmate, we’ve made it our mission to turn what is typically an unenjoyable and cumbersome task, such as police vetting, into a streamlined and efficient process,” said Scott Inglis, CEO and founder of Checkmate. “Our solution significantly reduces the time-to-hire and enhances the candidate experience, ultimately helping businesses acquire top talent more effectively.”

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Southeast Asia’s recruitment industry stands at a critical juncture, facing both unprecedented opportunities and formidable challenges. The region, comprising diverse economies from emerging markets like Vietnam and Indonesia to developed city-states
like Singapore, represents one of the world’s most dynamic and rapidly growing job markets. This economic vibrancy, however, is accompanied by a widening skills gap, particularly in tech-related fields, creating fierce competition for talent.

Unlike more homogeneous markets in the West, Southeast Asia’s recruitment landscape is characterised by its remarkable diversity — spanning multiple languages, cultures, and varying stages of economic development. This diversity, while a strength, poses unique challenges for recruiters attempting to source talent across borders. Traditional hiring methods are struggling to keep pace, with 52 per cent of recruiters citing finding the right candidate as their most significant hurdle.

In response to these challenges, AI-powered recruitment tools are emerging as game-changers. They’re not just streamlining processes; they’re fundamentally reshaping how companies in Southeast Asia attract, assess, and onboard talent.

The urgency for such solutions is reflected in the projected growth of the HR technology market in the Asia-Pacific region — expected to surge from US$5.5 billion in 2022 to US$9.7 billion by 2028, a compound annual growth rate of 9.1 per cent. This rapid adoption underscores the critical need for more efficient, unbiased, and effective hiring processes in this booming yet complex market.

The AI advantage in recruitment

AI-driven recruitment solutions offer numerous benefits that address longstanding challenges in the hiring process. Traditional methods often involve time-consuming tasks such as resume screening, interview scheduling, and initial candidate assessments.

AI enhances this process by analysing thousands of resumes in minutes, using predictive analytics to evaluate candidates’ potential beyond their resumes, and accessing untapped talent pools through social media listening, thus improving efficiency and reducing bias in the initial screening stages. In fact, 23 per cent of hiring time is typically spent on the screening process alone. AI automates these processes, allowing HR professionals to focus on strategic decision making and candidate engagement.

One of the most significant advantages of AI in recruitment is its potential to minimise human bias and uncover hidden talent. Studies show that 60 per cent of successful hires would be missed by traditional hiring methods.

By focusing objectively on skills and qualifications, AI-powered tools can help create a more diverse and inclusive workforce by reducing human biases in the initial screening process. In Southeast Asia’s diverse market, these tools can efficiently identify qualified candidates from various
backgrounds, languages, and cultures, broadening the talent pool beyond traditional recruitment methods.

Also Read: How to simplify the overcomplicated hiring process

AI enhances the candidate experience through chatbots and automated communication systems, ensuring prompt responses to queries and providing real-time updates on application status. This seamless and responsive process creates a positive impression,
potentially increasing the likelihood that top candidates will accept job offers and recommend the company to others.

Moreover, AI tools analyse vast amounts of data to provide actionable insights, helping organisations make informed decisions about their hiring strategies and predict candidate success. For example, AI-powered predictive analytics can evaluate a
candidate’s true potential, including their cognitive skills and cultural fit, by analysing past hiring data to find patterns of success. This is especially valuable in Southeast Asia’s rapidly growing economies, where businesses are expanding and competing fiercely for top talent.

Addressing unique challenges in Southeast Asia

The adoption of AI in recruitment is particularly relevant in Southeast Asia, a region characterised by its young, tech-savvy workforce and dynamic business environment. AI tools can be tailored to understand and process multiple languages and cultural
nuances, making them invaluable in this diverse region.

With the rapid pace of technological advancement, many Southeast Asian countries are facing skills gaps in various sectors. In fact, 52 per cent of recruiters state that finding the right candidate is the most significant hurdle for them. AI-powered assessment tools can help identify candidates with the right skill sets and potential, even if their formal qualifications may not perfectly match job descriptions. This is crucial for bridging the skills gap and fostering innovation in the region.

Also Read: Soft skills, learning ability get increasingly important for hiring managers as AI transforms the workplace: LinkedIn

It is ironic that the challenge that AI is solving for is also further compounded by AI-enabled CV writing. General access to consumer AI tools ensures that most CVs today have, at the very least, clean language and structure. A large bank of homogeneously
acceptable resumes makes it that much harder for recruiters to sift the wheat from the chaff.

Innovations in AI driven recruitment

The latest AI-powered recruitment platforms are revolutionising the hiring process with innovative features. Comprehensive skill assessment tools now offer vast libraries of questions covering hundreds of skills, providing deep insights into a candidate’s
abilities. For instance, foundit’s Sprynt platform has developed over 20,000 questions across 500+ skills, allowing for highly customisable and targeted assessments.

Gamified assessments for evaluating cognitive and emotional attributes are gaining traction. These engaging tests have shown completion rates as high as 95 per cent, compared to 50-80 per cent for traditional assessment platforms, providing a more holistic view of candidates. To ensure the integrity of online assessments, sophisticated anti-cheating measures, including browser restrictions, video proctoring, and AI powered suspicious activity detection, are being implemented.

The impact of these AI-powered tools is significant. Industry data suggests they can lead to a 50 per cent reduction in hiring time and an 80 per cent reduction in the number of interviews needed. This efficiency not only saves resources but also improves the overall quality of hires.

Advanced matching algorithms are taking capabilities to the next level by considering not just skills and experience, but also cultural fit and career aspirations. Predictive analytics, analysing historical hiring data and candidate performance, are helping
companies make more informed hiring decisions.

Balancing AI and human judgment

While AI offers tremendous benefits, it’s crucial to maintain a balance between technology and human judgment. AI should be seen as a tool to augment human decision-making, not replace it entirely. As we embrace AI in recruitment, we must remain vigilant about potential biases in algorithms and ensure transparency in the hiring process. Regular audits and human oversight are essential to maintain fairness and inclusivity.

The future of AI in Southeast Asian recruitment

The future of recruitment in Southeast Asia is undoubtedly intertwined with AI. As these technologies continue to evolve, we can expect even more sophisticated tools that further streamline the hiring process and uncover hidden talent. The impact is already
evident, with companies using AI in performance management seeing a 20 per cent improvement in employee retention compared to traditional techniques, according to a 2023 study by the Singapore Institute of Human Resource Management.

By embracing AI in recruitment, organisations in Southeast Asia can build more diverse, skilled, and engaged workforces, driving innovation and growth in this dynamic region. We’re still in the early stages of AI adoption, and the potential is immense. Going
forward, the key will be to harness AI’s capabilities while maintaining a human-centric approach to recruitment. This way, we’re not just finding candidates, but fostering meaningful relationships that contribute to business success.

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BBTruck, a supply chain and logistics technology company headquartered in Taiwan, recently closed its pre-series A funding round led by Oasis Venture, H2U Corp., and StarWorks Entrepreneurial Venture Capital, to bring its total funding to US$6.5 million.

The firm plans to use the money to accelerate global market expansion, particularly in North America and Southeast Asia.

e27 spoke with Steven Chou, BBTruck’s co-founder and CEO, to learn more about the company’s offerings, USP, and expansion plans.

Excerpts:

How does BBTruck differentiate itself from other logistics technology platforms? What are your competitive advantages in the global market?

BBTruck is a light-asset model that allows us to manage the platform from a holistic supply chain perspective without owning a fleet. This model enables traditional trucking companies and innovative logistics providers to join as capacity partners, helping businesses reduce logistics and transportation costs.

Our one-stop supply chain and logistics technology platform offers a comprehensive 5PL solution, providing a more integrated view than traditional 3PL or 4PL providers. It allows B2B clients to monitor capacity data, track shipments, and oversee routes through an intuitive interface, enhancing transparency and efficiency.

What are the primary areas where the US$6.5 million pre-series A funding will be allocated?

• The funding will primarily be allocated to three key areas:
• Actively expanding into international markets.
• Enhancing technical capabilities in capacity data analysis and integration.
• Recruiting top talent.

We currently operate eight logistics warehouses in Los Angeles, Houston, Chicago, New Jersey, Vancouver, and Toronto, supported by a fleet of around 200 vehicles.

Our immediate goal is to enhance our North American operations by adapting our platform’s functionalities to better suit the local logistics industry. This includes expanding map coverage, supporting more local languages, and strengthening partnerships with local logistics partners and customers.

Also Read: How companies are using AI to prevent supply chain disruptions?

By 2025, we also plan to enter Southeast Asia, such as Vietnam, Malaysia, Singapore, Thailand, and Indonesia, where we have already secured logistics partners. We aim to provide businesses in these regions with transparent supply chain logistics management.

We are also advancing our data analysis and integration technologies to deliver enhanced capacity calculation and automated dispatching services to our customers worldwide. We will also optimise our carbon footprint verification data collection applications to support logistics providers’ digital carbon management needs.

With plans to expand into North America and Southeast Asia, how does BBTruck plan to navigate the different regulatory environments and logistical challenges in these regions?

In North America, we’ve identified that shipping costs often fluctuate based on factors like peak hours and demand – unlike the more stable pricing models used in Taiwan. To address this, we continuously refine the features of BBTruck’s one-stop supply chain and logistics technology platform, enabling businesses to manage these variable shipping costs efficiently.

Collaboration with local partners will be key for newer markets like North America and Southeast Asia. These partners’ deep understanding of the regional logistics landscape will help us quickly adapt to each market’s specific operational models and regulatory requirements.

Can you share more about the enhancements BBTruck plans to make in its technology offerings, particularly in capacity data analysis and integration?

BBTruck is focused on enhancing our technology offerings by optimising big data applications and algorithm design to improve logistics capacity calculations and data exchange across multiple carriers and fleets.

Also Read: What entrepreneurs should know about delivery management in 2024

As our network of partners and customers grows, we are accelerating upgrades to our API integration interface and data exchange framework, enabling us to handle larger volumes of information and ensure seamless integration with various systems. We are also actively exploring AI technologies to advance our platform, aiming to develop new capabilities to enhance our one-stop supply chain logistics solutions.

BBTruck’s platform leverages big data to maximise logistics efficiency. Could you elaborate on the specific data points and analytics that drive these improvements?

BBTruck’s platform harnesses big data to enhance logistics efficiency by integrating and analysing various critical data points. Our system collects and analyses data related to transportation capacity, including truck sizes, devices, real-time orders, load capacities, and addresses.

When a business places an order, our platform uses this data to automatically allocate the most suitable transport fleet by matching available trucks to the delivery requirements. This approach optimises logistics resources, resulting in a nearly 75% reduction in empty truck rates and a 40 per cent improvement in order placement and tracking efficiency. These advancements significantly lower logistics costs and enhance overall operational efficiency for our clients.

By integrating diverse data related to transportation capacity, BBTruck can efficiently allocate and flexibly combine different delivery resources. For instance, a truck can be repurposed as a small satellite warehouse and paired with a motorcycle fleet to deliver goods in a radial distribution model. This strategy minimises the number of delivery points the truck must visit and reduces fuel consumption, enhancing overall logistical efficiency.

How does BBTruck’s API integration work with multiple carriers and freight companies? What challenges did you face in developing this feature, and how have you addressed them?

BBTruck’s API integration ensures seamless connectivity between our platform and various carriers and freight companies through a robust data exchange framework. This integration allows for real-time synchronisation of order, load, and cargo information, enabling customers to manage their entire supply chain logistics efficiently in one place.

Despite thousands of freight companies in Taiwan, many still rely on traditional methods like manual scheduling and phone orders, complicating API integration due to their lack of digital systems.

To address this, we developed a lightweight, easily integrable, and cost-effective order management system that adapts to various operational methods. Our solution offers high flexibility, using big data analytics to customise services based on specific customer needs, further ensuring broader compatibility and enhancing logistics management across diverse environments.

In the North American market, we face similar challenges. Although large fleets often have open APIs, many smaller logistics providers still use traditional methods. This presents significant opportunities for technological integration, making it a promising market for BBTruck.

Our platform’s solutions to industry pain points and alignment with market needs have driven a 30 per cent annual growth in logistics providers using our platform.

Moving forward, BBTruck will continue to enhance our matchmaking services, delivering additional advantages to our clients.

BBTruck claims it is committed to reducing carbon footprints and achieving net-zero carbon emissions. How do you plan to achieve these goals?

We plan to achieve these goals by integrating sustainability into our core operations. We employ technology to precisely calculate and allocate logistics capacity, minimising waste and enhancing efficiency. Our approach includes planning the most efficient routes to reduce fuel consumption and consolidating loads to maximise truck capacity, thereby lowering the carbon footprint.

Also Read: APX wants to revolutionise logistics in SEA with ‘less-than-truckload’ innovation

In August 2024, we partnered with Standard Foods on a charity delivery project in Taiwan executed with a carbon-neutral approach. This initiative leveraged our automated data collection for precise carbon footprint verification, reflecting our strong commitment to ESG principles.

Looking ahead, we will continue to leverage advanced technology to improve delivery efficiency, reduce carbon emissions, and deepen our use of logistics data for carbon footprint management.

Could you provide more details on the logistics data carbon auditing feature? How do you see it impacting the broader supply chain industry?

BBTruck platform’s logistics data carbon auditing feature, supported by Taiwan’s ISO 14067 product carbon footprint certification, allows for real-time collection and processing of emissions data. It provides businesses with access to Scope 3 (indirect greenhouse gas) emissions data from external logistics providers, aligning with the Greenhouse Gas (GHG) protocol. This automated data collection and analysis simplify the often challenging task of calculating Scope 3 emissions, offering a valuable tool for developing carbon-neutral supply chains.

Effective supply chain carbon management has become increasingly critical as the global focus shifts towards achieving net-zero emissions by 2050. The logistics industry faces substantial challenges in implementing sustainable practices and adapting to technological changes. BBTruck’s platform addresses these challenges by providing transparent logistics management that enables businesses to monitor and manage their carbon footprint throughout delivery.

Our platform reduces inefficiencies such as low load factors and high empty vehicle rates by calculating transportation capacity and automating allocation. This lowers the carbon footprint of logistics operations and benefits logistics providers and businesses by enhancing sustainability.

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Image Credit: BBTruck.

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A startup’s success is often driven by its ability to solve real-world problems effectively. Startups that identify pressing issues and develop innovative, scalable solutions are more likely to gain traction in the market.

Whether addressing industry inefficiencies, enhancing customer experiences, or solving societal challenges, these businesses thrive by aligning their products or services with unmet needs. By focusing on problem-solving, startups not only attract customers and investors but also build sustainable growth models. The ability to adapt and evolve with changing problems is crucial to long-term success in the competitive startup ecosystem.

Identifying societal problems requires startups to have a deep understanding of the needs and pain points of specific communities or industries. In this context, Filipino society—the most exciting market in Southeast Asia today.

This can be achieved through active engagement with potential customers, conducting surveys, and observing market trends. Startups should immerse themselves in real-life situations, talk to individuals facing challenges, and use data to uncover inefficiencies, gaps, or unmet demands.

Paying close attention to common complaints, time-consuming processes, or areas where technology can make a difference often reveals valuable opportunities. Founders who remain curious, empathetic, and focused on problem-solving are more likely to identify pressing issues that need innovative solutions.

Once a problem is identified, the next step is to build a tech-driven solution.

Also Read: Essential insights: Crafting a comprehensive cap table for founders

Founders should collaborate with technical experts or developers to design a product that addresses the problem. They should start by creating a minimum viable product (MVP) that tests the solution’s core functionality with a small group of users.

Feedback from this initial phase can help refine the product and ensure it meets user needs. Additionally, the solution should be scalable, adaptable, and able to leverage emerging technologies such as AI, cloud computing, or mobile platforms. By focusing on solving real-world problems with practical, tech-driven solutions, startups can position themselves for success and long-term growth.

How startups can solve a problem

But what else should startups keep in mind? Is there any insight that can help them understand their audiences, identify problems to tackle, and build the right solutions for them?

To find the answers, don’t miss the opportunity to gain invaluable insights at Echelon Philippines 2024!

Join Julian Cua, Managing Director and Partner at Boston Consulting Group (BCG), as he delivers the keynote, “Through the Eyes of the Everyday Filipino: Understanding Daily Challenges Worth Solving” at Level 2, SMX Convention Center Manila.

Also Read: Mastering the funding maze: Unlocking financing pathways for founders in the Philippines

Discover the pressing issues Filipinos face daily and explore opportunities for businesses and startups to address these challenges through innovation. Be part of the conversation that shapes the future of the Philippines and SEA at Echelon Philippines 2024.

Mark your calendars on September 26-27, 2024.

The post Real-world challenges: How Filipino startups can drive success through innovation and empathy appeared first on e27.

The telecommunications industry stands at a pivotal crossroads as 2G and 3G networks make way for 4G and 5G. This transition presents a golden opportunity for telcos to reimagine their strategies, leverage cutting-edge technologies, and tap into previously unreached customer segments. Cloud technology is at the core of this transformation, poised to revolutionise telco operations and service delivery, especially in regions where 2G still dominates.

The next billion users: An untapped opportunity

For years, telcos have been entrenched in fierce competition, driving down prices and offering increasingly commoditised services. In this landscape, differentiation has become challenging, and growth in saturated markets has plateaued. However, the global shift from 2G to 4G represents a unique opportunity for telcos to break free from these constraints and connect with a vast pool of new users who have yet to experience the internet entirely.

According to GSMA Intelligence, there were still 3.2 billion 2G connections globally in 2020. In India alone, over 250–300 million people continue to use basic feature phones as an alternative to smartphones, which remain out of reach for many due to cost barriers. For telcos, these users represent an enormous, untapped market. As 2G networks sunset, telcos have a critical window to connect these users to the digital world and transform their businesses.

The shift from 2G to 4G is more than a network upgrade; it’s an opportunity for telcos to redefine themselves as digital service providers and key enablers of the next wave of internet adoption. It presents the potential to offer life-changing internet services to billions while securing long-term customer loyalty and driving growth.

Here are three critical areas to set a course for success:

Craft a forward-thinking strategy with tangible objectives

As the industry witnesses the transition from 2G to 4G, telcos must move beyond their traditional role as basic connectivity providers and embrace a broader, tech-driven vision. This shift requires a change in mindset—telcos must see themselves as enablers of digital experiences that transcend voice and data. By doing so, they can unlock new business opportunities and deliver value-added services that attract and retain customers.

Also Read: The next communications frontier: Uniting 5G and VoIP in Southeast Asia

A prime example of this transformation is Reliance Jio in India. It successfully evolved its business and positioning as a digital life provider by offering a comprehensive suite of apps and services alongside affordable devices. Telcos aiming to succeed in the post-2G era must adopt a similar approach, focusing on innovation and customer experience to differentiate themselves from the competition.

Harness cloud solutions to drive growth and build loyalty

Cloud technology is a game-changer for telcos looking to reach new users and enhance customer loyalty. One key advantage is its ability to lower the cost threshold for delivering app experiences and multimedia services. This is particularly crucial in regions where affordability is a major barrier to internet access.

Thanks to the cloud-enabled platform, recent advancements have made it possible for even low-cost feature phones to run popular apps like YouTube and TikTok. The cloud-enabled platform allows devices as cheap as $15 to deliver modern app experiences and video streaming, dramatically lowering the entry barrier for new internet users. This breakthrough can attract billions of new subscribers while enhancing customer satisfaction and loyalty through richer user experiences and seamless access to digital services.

Create innovation services and diversify revenue streams

While the transition from 2G to 4G poses challenges, it also presents telcos with an opportunity to explore new business models and revenue streams. Cloud-native networks enable telcos to collaborate with partners across various industries, such as entertainment, digital advertising, and enterprise solutions. These partnerships can help telcos create unique offerings that drive growth and maintain competitiveness in a rapidly evolving market.

For example, by partnering with content providers, telcos can offer bundled entertainment packages that include streaming services, gaming, and other digital experiences. These offerings generate additional revenue and help telcos differentiate themselves in a crowded market.

Navigating challenges and maximising returns

Implementing a cloud-first strategy is not without its challenges. Telcos must navigate complex regulatory environments, particularly regarding data privacy and network security. Additionally, they must balance the initial investment in cloud infrastructure with potential resistance from users accustomed to 2G services.

However, the potential returns are significant. By capturing even a small fraction of the billions of 2G users transitioning to 4G, telcos can drive substantial growth in Average Revenue Per User (ARPU). Cloud-based services also offer higher margins compared to traditional voice and data plans, positioning telcos for long-term success.

Also Read: Is Singapore 5G ready?

Embracing cloud technology allows telcos to maintain ownership of the customer relationship rather than being relegated to “dumb pipe” status by tech giants entering the connectivity space. By offering a comprehensive suite of services, telcos can remain relevant and competitive in an increasingly digital world.

Seizing the moment: The time to act is now

The sunsetting of 2G networks is pivotal for the telco industry. Those who seize the opportunity to undergo a fundamental shift in vision and strategy will be best positioned to connect the next billion users, provide transformative internet services, and cultivate lifetime customer loyalty. Industry leaders must embrace a cloud-first approach to keep pace with change and shape the future of connectivity.

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It’s not a cybersecurity incident, but a glaring issue with cybersecurity today — dependency.

CrowdStrike is currently facing multiple lawsuits following the July 2024 outage. Angry customers are seeking compensation for extensive disruptions and financial consequences incurred due to the incident. Its widespread impact has also resulted in a class action lawsuit being filed against the company for negligence.

Although the issue was reversed within 79 minutes, the recovery process was complex and time-consuming. A quick fix was not possible here.

The incident begs the question: how reliable and stable are software security solutions in keeping us protected at all times? When the reason for acquiring software security is to enhance your operations and protect your organisation, organisations can ill-afford disruptions coming from the security provider.

As the dust settles, cybersecurity experts must advocate for a change in how organisations approach risk management and security solutions. While this event was not a cyberattack, it has underlined the vulnerabilities in software-dependent security measures and the need for a more holistic approach to cybersecurity.

The possibility of disruptions resulting from software defects or update problems becomes a major issue as companies depend more and more on software solutions to guard their digital assets. The CrowdStrike outage, which led to widespread crashes of specific Windows systems, is a stark reminder of the delicate balance between security and operational stability.

Limitations of software-based security

Blue Screens of Death (BSOD) and system crashes following software updates are not unique to this incident. In a separate incident that same month, Microsoft users reported that their computers were crashing every 30 minutes following a security update.

These incidents raise important questions about the architecture of security solutions and the potential benefits of diversifying cybersecurity strategies. While software-based security remains important for detecting known threats, the need for integration and complex layering of software systems creates a labyrinth of potential challenges. The interdependency that is characteristic of the software ecosystem means that countless entry points and vulnerabilities become interlinked, allowing multiple points of disruption and long recovery times.

Also Read: Embracing AI evolution: The crucial role of data management and cybersecurity in AI success

The promise of intelligent hardware-based security solutions

Running counter to such issues, hardware-based security solutions have unique benefits. From the silicon level, they operate independently from the software layer and can provide an additional line of defence without interfering with core system processes. This independence is particularly useful in instances where software vulnerabilities or update issues might compromise the integrity of the security system itself.

Just as an external auditor reviews a business’s processes without disrupting or complicating its operations, ideal security solutions should integrate seamlessly to maintain the functionality and workflow of existing systems while providing robust protection.

Moreover, integrating Artificial Intelligence (AI) into hardware-based security solutions presents exciting possibilities for addressing one of the most significant challenges in cybersecurity: zero-day attacks. Unlike traditional software solutions that rely on known threat databases, AI-powered hardware security operating at the hardware layer does its work in an engineered enclave environment. This gives it the potential to identify and respond to new and unknown threats in real-time without the need for constant human updates.

Encouragingly, the concept of non-disruptive security measures is gaining traction in the cybersecurity community which has long relied on software solutions as its main line of defence — but it needs to move faster.

Digital transformation and cybersecurity challenges

The need for robust and adaptable cybersecurity measures is particularly dire in regions experiencing rapid digital transformation, such as the Asia-Pacific (APAC). According to IDC, Asia-Pacific is leading the charge in digital transformation spending growth, with an expected 18.9 per cent increase in 2024, outpacing North America (15.7 per cent), Europe (13.6 per cent), and Latin America (11.3 per cent).

This accelerated pace of digital adoption in Asia-Pacific presents both opportunities and challenges. As organisations in the region embrace new technologies at a faster rate than their global counterparts, ensuring the security and stability of these systems becomes increasingly critical and complex.

Also Read: How Flexxon aims to solve AI’s cybersecurity problem through hardware-focused approach

The rapid digital transformation in Asia-Pacific also correlates with higher cybersecurity risks. In 2023, the World Economic Forum reported that the average number of cyber attacks per organisation in the APAC region is approximately 47.04 per cent higher than the global average. This higher incident rate shows the urgent need for more advanced cybersecurity measures in the region as it continues to lead in digital transformation.

This reality highlights the need for a more holistic approach that combines the strengths of both hardware-based and software solutions. As we move forward, it’s clear that the future of cybersecurity lies in this balanced hardware-software approach.

A call for a holistic approach

The CrowdStrike outage should be a wake-up call for organisations worldwide. It shows the urgent need for diverse security strategies and innovative solutions that can operate independently of core system processes. Organisations can build more resilient systems capable of withstanding future cybersecurity challenges by adopting a holistic approach that combines the strengths of software and hardware-based security measures. Integrating AI-powered hardware security into existing cybersecurity is how we get the robust, adaptive, and non-disruptive security that we all need.

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Rei Murakami Frenzel, the second daughter of Yoshiaki Murakami, founder of Japan’s Murakami Family Foundation, has teamed up with Felix Frenzel (former Investment Manager at Antler) to launch Kadan Capital in Singapore.

Also Read: Healthtech, edutech dominated SEA’s funding scene in past 5 years: Tracxn

Kadan, which means ‘decisive, determined’ in Japanese, seeks to invest in early-stage companies in Asia with sufficient evidence of product-market fit and significant rapid growth potential.

The target verticals are fintech, SaaS, and Artificial Intelligence across Southeast Asia (mainly Singapore and Indonesia), Japan, and the Middle East (primarily the UAE and Saudi Arabia).

The ticket size is US$500,000 to US$1 million.

“We believe now is the right time to back a new wave of ventures in Asia and beyond,” Kadan Capital said in a statement. “As active investors, we are committed to supporting visionary entrepreneurs with the boldness and conviction to drive meaningful, positive change in the world.”

“We go beyond providing capital; we are long-term partners offering strategic insights, resources, and a powerful network to help transform high-potential ideas into industry-defining successes,” the company added.

Singapore’s early-stage VC space is vibrant and rapidly growing, driven by a strong startup ecosystem, government support, and strategic location in Southeast Asia. The city-state is home to numerous VC firms that focus on seed and Series A funding for startups in sectors like fintech, AI, e-commerce, and deep tech.

Also Read: Funding into SEA’s female-led startups falls 42% to US$480.8M in 2023: Tracxn

Government initiatives like Startup SG and tax incentives have bolstered investor interest, while incubators and accelerators provide additional support to entrepreneurs.

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Tokenize Xchange (Tokenize), a digital asset exchange headquartered in Singapore, has secured an undisclosed strategic investment for its mainnet, Titan Chain, from digital entertainment, blockchain, and gamification company Animoca Brands.

As part of the deal, Animoca will support Tokenize through market-making and node validation, assist in listing Tokenize’s TKX token, and explore partnership opportunities with Mocaverse and other projects.

Cryptocurrency market dynamics: Insights into supply, demand, and regulatory influences

This partnership will facilitate the development of new blockchain-integrated products, particularly in gaming and digital collectibles. At the same time, Animoca’s role as the lead validator for Titan Chain will bolster security and efficiency.

Hong Qi Yu, CEO and founder of Tokenize Xchange, commented: “This investment from Animoca Brands into Titan Chain marks a pivotal moment for the entire Tokenize ecosystem. This partnership will significantly enhance our ability to innovate across DeFi, GameFi, and NFTs, solidifying Tokenize’s position as a leader in the digital asset space.”

Tokenize Xchange offers a secure, user-friendly platform for trading various cryptocurrencies, serving individual and institutional investors. It operates under regulatory exemptions from the Monetary Authority of Singapore as well as a full Digital Asset Exchange license from the Securities Commission Malaysia (SC).

Titan Chain is built on the Cosmos SDK, offering full EVM compatibility and seamless Ethereum interoperability. It addresses high transaction fees, scalability issues, and limited interoperability in existing networks.

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The exchange recently raised a US$11.5 million Series A extension round.

The blockchain market is projected to reach US$1,431.54 billion by 2030, according to Grand View Research.

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It’s starting to feel like every product has an ‘AI-powered’ badge slapped on it. However, the SEC put its foot down earlier this year, charging US$400,000 for the false claims made by two companies.

“AI washing” is not only misleading, but it also undermines the perception of AI-first products and leads to disappointment among customers and investors.

Understanding the difference between AI-enabled and AI-native solutions helps clarify competitive edge, scalability, and market positioning. While AI-enabled solutions focus on enhancing existing products and may appeal to a broader customer base with a more familiar offering, it’s essential to understand the constraints to scale regarding incompatible data sources and legacy limitations. 

Let’s decode the jargon, find out how to spot AI that delivers, and ensure you get what it says on the label.

AI-enabled solutions

Beginning as conventional technologies, AI-enabled solutions are those that later integrate AI to boost performance. 

For example, HubSpot integrates AI to automate tasks like email scheduling and lead score predictions, enhancing its CRM functions. While Netflix uses AI to personalise show and movie recommendations, transitioning from a standard digital platform to one that leverages AI to analyse viewing habits for better suggestions.

What these companies have in common is, although not AI-native, they are digital-native. Both companies have accumulated vast amounts of user data over decades, fueling their AI engines. Netflix has viewing history, ratings, and metadata, while HubSpot has customer interactions, marketing data, and sales information. They have also invested heavily in AI talent.

When looking for AI-enabled companies to invest in, it’s crucial to ensure they have clear goals for their AI initiatives and are prepared to keep developing. Netflix invests 10 per cent of its revenue into its technology and development budget.

Also Read: Embracing AI in Southeast Asia: The strategy for avoiding cost overruns

What specific problem has your prospect investment identified that AI can solve? Are they continuously investing in their AI journey, or do they see it as a one-time project? AI initiatives must constantly evolve and adapt with their user base, so you must ensure your AI-enabled ventures have an agile culture to allow for rapid iterations.

AI-native solutions

Since AI-native solutions are built from the ground up using AI, they inherently offer more sophisticated capabilities. This means they have the elasticity to scale, deliver high performance with minimal resource consumption, and are designed for continuous AI advancement — they are positioned at the forefront to reap the benefits of rapidly evolving technology.

However, since these market disruptors often pioneer new fields, redefining industry standards, they come with a price tag and notable uncertainty.

Look at OpenAI’s GPT models. Its products are fundamentally AI, constantly advancing their ability to understand and generate text. Altogether, VCs have put in just over US$300 million at a valuation of US$27 billion – US$29 billion.

Similarly, Waymo is designed to utiliSe AI for navigating and making decisions, functioning as a fully integrated AI system rather than just a car with AI features. The autonomous ride-hailing service raised US$2.5 billion in its second round of funding.

Some of the smaller players looking to compete in the market often use third-party technology, like OpenAI, to address a specific lucrative use case. Labeled thin wrapper startups, these AI founders take existing technology and add their own unique value proposition — like Salesforce did with Oracle database.

The important part is to ensure your prospective startups keep listening to their audience, iterating their products, and confirming they solve a painful enough problem so that, over time, they can become thick wrappers with strong defensibility instead.

Wrapping up

In essence, most startups can’t compete with ChatGPT. Ninety percent of AI startups fail, most commonly due to a lack of market awareness, funding, or expertise. Jasper AI is an example of this, as its revenue and valuation crumpled after the source, OpenAI, released ChatGPT, a model that did precisely the same thing. 

Also Read: One-third of Singaporeans never used AI tools in their workplaces: Survey finds

You must check whether your prospective AI-native startups solve a big enough problem, but more importantly, ask yourself: Do you believe in them? If you do, enquire about their business model. Is a focused strategy in place to meet achievable objectives? Have they got the right expertise? And what evidence do they have to show they can pivot if needed?

The fundamental nature of the space right now is that everyone is excited by AI, but we’re just coming to the tail of last year’s AI explosion, where many AI-enabled projects or AI-native startups that don’t have a strong enough use case or market won’t survive.

Only those that grow and meet revenue targets will retain their spot in the field. Startup ‘down rounds’ are often some of the first triggers that reduce investor confidence, and the loss of competitiveness or ability to meet growth targets is likely to impact employee and founder morale.

Choosing what companies to invest in requires careful consideration. But the results can be highly lucrative. Do you play safe and invest in renowned companies? Or is their market maturing? And what is their track record with implementing emerging technologies? Sometimes, after all your analysis, it’s about taking a leap of faith and trusting your gut.

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